New initiative aimed to reduce US dependency on foreign oil

After a meeting about oil in the Middle East this weekend, panhandle energy officials have a response.

Oil officials around the world failed to reach an agreement on Sunday on freezing production, so local officials used today to send a message.

Dr. Daniel Fine, New Mexico Policy Project Director, has constructed an initiative to help reduce America’s dependence on foreign oil. Even though prices for oil are dropping, if the U.S. continues to buy cheap oil from international companies, we allow them to control our oil economy instead of producing and relying on our own oil.

The initiative uses import quotas implemented during the Eisenhower administration in the 1950’s. Dr. Fine says those quotas actually saved the oil industry, and he believes that can happen again.

This initiative is a joint project between the high plains, New Mexico & Colorado, and North Dakota.

For now, Dr. Fine and his colleagues want their message to reach current presidential candidates.

Dr. Fine hopes to get the initiative on the new president’s desk in 2017. Source.